Hy-Vee First to Deploy Grocery TV’s Closed-Loop Retail Media Solution
Midwestern grocer Hy-Vee has partnered with in-store digital advertising platform Grocery TV to bring closed-loop measurement capabilities to its retailer media network, RedMedia.
Hy-Vee is the first retailer in Grocery TV’s network to implement the new measurement offering, which directly ties campaign impressions to sales data/outcomes. The offering provides enhanced attribution capabilities and faster insights through direct partnerships with retailers.
"Through our partnership with Grocery TV, we are helping brands understand the true impact of their in-store retail media investments," Kathryn Mazza, Hy-Vee's chief marketing officer and president of RedMedia, said in a media release. "This capability helps brands better understand the impact of their campaigns, allowing them to make more informed decisions and improve their overall retail media performance."
According to Grocery TV, the new solution brings digital-style attribution to the physical store by enabling brands to measure return on ad spend (ROAS) and incremental ROAS (iROAS) across campaigns. Early tests showed CPG brands achieving an average 4.7x ROAS when advertising on the network, per the release.
Additional features of the closed-loop measurement solution include:
- Faster data availability and campaign insights with shorter data lookback windows for real-time optimization.
- Scalability across multiple retailers, offering a broader view of in-store performance within a brand’s media mix.
- Custom study designs that allow for measurement of factors such as incremental reach and store-level impact.
"With this capability, we're giving brands a clear and consistent way to understand the impact of in-store advertising and how it drives real results at scale," Marlow Nickell, CEO and co-founder at Grocery TV, said in the release.
The solution is now available for brands and retailer partners.